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London—Reed Elsevier said last week that its revenue increased to $9.59 billion in 2009 from $8.43 billion in 2008, an increase of 14%, although revenue was flat when factoring in currency fluctuations.

Reed Elsevier’s operating profit fell to $1.24 billion last year, from $1.42 billion in 2008, a decline of 13%, or 22% in constant currencies. The company had net debt of $6.3 billion at the end of 2009.

“Our professional information revenues held up relatively well in what was a difficult year for most of our customers. However, businesses dependent on our customers’ marketing budgets were hit hard,” Erik Engstrom, CEO of Reed Elsevier, said in a statement.

Reed Business Information, which is in the process of divesting most of its U.S. controlled-circulation properties, was hit especially hard. The unit’s revenue fell to $1.41 billion from $1.56 billion in 2008, a drop of 18% in constant currencies. The unit posted an operating loss from continuing operations of $257 million last year.

The company said this year will bring a further revenue decline for RBI. Reed Elsevier also reiterated that it plans to retain RBI US properties BuyerZone, Reed Construction Data and Variety.